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Nephrostomy Devices Market Competitor Analysis And Overview 2024-2033
Nephrostomy Devices Market Demand
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According to The Business Research Company's, The nephrostomy devices market size has grown strongly in recent years. It will grow from $1.11 billion in 2023 to $1.20 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increased prevalence of kidney stone disease, surge in aging population, increased reimbursement policies, increased applications in urological procedures, increase in awareness, increased prevalence of kidney-related diseases, and enhanced healthcare infrastructure.
The nephrostomy devices market size is expected to see strong growth in the next few years. It will grow to $1.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to increasing prevalence of kidney-related diseases, rising geriatric population, expanding healthcare infrastructure in emerging markets, growing awareness and diagnosis of urological disorders, increasing investment in research and development, and increasing awareness about nephrostomy procedures. Major trends in the forecast period include advancements in minimally invasive surgical techniques, technological innovations in medical devices, advancements in medical imaging technologies, technological innovations in nephrostomy device design, and advancements in catheter.
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Market Drivers and Trends:
The rise in the incidence of kidney transplants is expected to propel the growth of the nephrostomy device market going forward. A kidney transplant is a surgical procedure in which a healthy kidney from a donor is placed in a person with kidney failure. The increase in kidney transplants is due to the growing incidence of chronic kidney disease and kidney failure and advancements in medical technology and transplant procedures. Nephrostomy devices help in kidney transplants by providing a temporary solution to drain urine directly from the kidneys when there are complications, such as blockages in the urinary tract, ensuring proper kidney function and reducing the risk of infection or damage to the transplanted kidney during the critical post-transplant recovery period. For instance, according to the Health Resources and Services Administration (HRSA), a US-based federal agency within the U.S. Department of Health and Human Services (HHS), in 2022, the number of adult candidates added to the kidney waiting list reached a high of 44,187, surpassing the pre-pandemic peak of 42,932 in 2019. Further, the total number of adult candidates listed for a kidney transplant (including multiple listings for those registered at more than one center) increased slightly to 140,165, compared to 139,011 in 2021. Therefore, the rise in the incidence of kidney transplants is driving the nephrostomy device market.
Major companies operating in the nephrostomy devices market are developing innovative products, such as pressure injection in catheters, to improve procedural efficiency and patient outcomes. Pressure injection in a catheter refers to the technique of using controlled pressure to inject fluids or medications through a catheter inserted into the body, typically into the renal system in the case of nephrostomy procedures. For instance, in June 2022, Teleflex Incorporated, a US-based medical device company, launched the Arrow Pressure Injectable Midline. The arrow pressure injectable midline, with its distinctive yellow hubs and labels, simplifies catheter identification to prevent infusion mistakes. Its design maintains a consistent French size, lowering the risk of venous stasis. Streamlined tray configuration and an ergonomic trimmer ensure precise placement during procedures. It incorporates extra safety features, enabling rapid pressure injections of up to 5 mL/second through either lumen, reducing delays in diagnosis and treatment.
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Major Key Players of the Market:
Becton, Dickinson and Company, Stryker Healthcare, Boston Scientific Corporation, Olympus Corporation, Terumo Corporation, Coloplast Corp., B. Braun Medical Inc., Cook Medical, Teleflex Incorporated, Merit Medical Systems, AngioDynamics, Argon Medical Devices, Well Lead Medical Co. Ltd., Amecath, Medi-Globe GmbH, Envaste Limited, Troge Medical GmbH, Rocamed, Suru International Pvt.Ltd., UroMed, Electramed Ltd., Urovision-Urotech, Blueneem Medical Devices Pvt Ltd., Manfred Sauer UK, Surgimedik Healthcare India Pvt Ltd
Nephrostomy Devices Market 2024 Key Insights:
• The nephrostomy devices market size is expected to see strong growth in the next few years. It will grow to $1.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Increase in Kidney Transplants Drives Nephrostomy Device Market Growth
• Advancements in Nephrostomy Devices For Enhancing Efficiency and Patient Outcomes through Pressure Injection Technology
• North America was the largest region in the nephrostomy devices market in 2023
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